CHICAGO — Indianapolis will lease its parking meters for 50 years to a private company under a controversial plan by Mayor Greg Ballard that was narrowly approved Monday by the city-county council.

The council approved the plan by a 15-14 vote. A handful of council members who had been opposed to the deal ended up voting in favor after the Ballard administration announced a number of key revisions, including one that allows the city to opt out of the agreement every 10 years for a fee.

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